PRA’s Bailey Appointed as New FCA Chief Executive

Prudential Regulatory Authority’s Andrew Bailey steps up to take UK regulatory hot seat starting in July.

Andrew Bailey
Andrew Bailey has been on the FCA board since 2013.

Andrew Bailey has been announced as the new permanent chief executive of UK regulator the Financial Conduct Authority.

Bailey is currently the deputy governor for Prudential Regulation at the Bank of England and CEO of the Prudential Regulation Authority, and is expected take up the position as head of the FCA in July, replacing interim CEO Tracy McDermott, who replaced previous incumbent Martin Wheatley in September last year.

"[Bailey] brings unrivalled regulatory experience, a proven track record and an excellent reputation in the UK and internationally. Having been an FCA Board member since 2013, he has been fully engaged with all the regulatory issues that we have faced in recent years and in setting our strategy for the future," said John Griffith-Jones, chairman of the FCA, in a statement.

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